EN
The Effect of Trade Openness and Economic Freedom on Economic Growth: The Case of Middle East and East Asian Countries
Abstract
One of the rudiment features of international trade theory is that open economies achieve high economic growth rates than closed economies. The current study aims to investigate how economic freedom impacts economic growth. Therefore, economic growth model is estimated by using 17(Middle East and East Asian) countries’ data during 2000-2009.In order to testing the data, panel data analysis is employed. The results show that overall index of economic freedom is positively and robustly correlated with growth, further, the results demonstrate that trade openness is positively associated and statistically significant determinant of growth. We find that economic freedom has significant effect on economic growth. Furthermore, we decompose the economic freedom index into the five categories constructing the index and observed that just index of size of government and index of access to sound money is negatively correlated with growth.
Keywords
Details
Primary Language
English
Subjects
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Journal Section
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Publication Date
June 1, 2013
Submission Date
June 1, 2013
Acceptance Date
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Published in Issue
Year 2013 Volume: 3 Number: 2
APA
Razmi, M. J., & Refaei, R. (2013). The Effect of Trade Openness and Economic Freedom on Economic Growth: The Case of Middle East and East Asian Countries. International Journal of Economics and Financial Issues, 3(2), 376-385. https://izlik.org/JA58HY69TN
AMA
1.Razmi MJ, Refaei R. The Effect of Trade Openness and Economic Freedom on Economic Growth: The Case of Middle East and East Asian Countries. IJEFI. 2013;3(2):376-385. https://izlik.org/JA58HY69TN
Chicago
Razmi, Mohammad Javad, and Ramiar Refaei. 2013. “The Effect of Trade Openness and Economic Freedom on Economic Growth: The Case of Middle East and East Asian Countries”. International Journal of Economics and Financial Issues 3 (2): 376-85. https://izlik.org/JA58HY69TN.
EndNote
Razmi MJ, Refaei R (June 1, 2013) The Effect of Trade Openness and Economic Freedom on Economic Growth: The Case of Middle East and East Asian Countries. International Journal of Economics and Financial Issues 3 2 376–385.
IEEE
[1]M. J. Razmi and R. Refaei, “The Effect of Trade Openness and Economic Freedom on Economic Growth: The Case of Middle East and East Asian Countries”, IJEFI, vol. 3, no. 2, pp. 376–385, June 2013, [Online]. Available: https://izlik.org/JA58HY69TN
ISNAD
Razmi, Mohammad Javad - Refaei, Ramiar. “The Effect of Trade Openness and Economic Freedom on Economic Growth: The Case of Middle East and East Asian Countries”. International Journal of Economics and Financial Issues 3/2 (June 1, 2013): 376-385. https://izlik.org/JA58HY69TN.
JAMA
1.Razmi MJ, Refaei R. The Effect of Trade Openness and Economic Freedom on Economic Growth: The Case of Middle East and East Asian Countries. IJEFI. 2013;3:376–385.
MLA
Razmi, Mohammad Javad, and Ramiar Refaei. “The Effect of Trade Openness and Economic Freedom on Economic Growth: The Case of Middle East and East Asian Countries”. International Journal of Economics and Financial Issues, vol. 3, no. 2, June 2013, pp. 376-85, https://izlik.org/JA58HY69TN.
Vancouver
1.Mohammad Javad Razmi, Ramiar Refaei. The Effect of Trade Openness and Economic Freedom on Economic Growth: The Case of Middle East and East Asian Countries. IJEFI [Internet]. 2013 Jun. 1;3(2):376-85. Available from: https://izlik.org/JA58HY69TN